1. Home
  2. Ethereum ETF proposal

Ethereum ETF proposal

ARK and 21Shares drop staking plans from Ethereum ETF proposal

Bloomberg ETF analyst Erich Balchunas suggests the update may be a response to potential SEC feedback despite no official comments.

ARK Invest and 21Shares have removed staking plans from their updated spot Ether exchange-traded fund proposal.

In the updated filing submitted on Friday, May 10, the clause stating 21Shares would stake a portion of the fund’s assets through third-party providers was removed. It previously said, “Sponsor may, from time to time, stake a portion of the Trust’s assets through one or more trusted Staking Providers.”

In their Feb. 7 filing, the companies included a clause stating that 21Shares anticipated receiving ETH as a reward for staking and intended to classify the resulting earnings as income generated by the fund.

Read more

Chamath Palihapitiya Says US Economy ‘in the Toilet’ if Not for Government Distortions – Here’s What He Means